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Reengineering the Real Estate Agency   Message List  
Reply | Forward Message #431 of 442 |
RE: [ballistix] Re: Reengineering the Real Estate Agency

Success is often found when goals are aligned. By this I mean aligning
your goals to the REA's.

I think you are correct in deducing that a fast sale is of more value to
the REA than the incremental commission on a small increase to the sale
price.

The other factor is that properties go stale if they are on the market
for too long. Once they have been seen by potential buyers (i.e. in
advertisements) they become 'invisible' to those buyers. So the longer
it's on the market, the harder it is for the REA to sell (there are less
interested prospects), and the more prone to discounting the REA will
need to become to move it.

Therefore, speed of sale is really the only common goal between yourself
and the REA.

Perhaps your sales 'process' could involve a series of REA's on
relatively high incentive on relatively short term contracts. To support
your process, as you switch from one to the next, you need to have
different advertising collateral so the house looks different each time
it hits the market, so it becomes less invisible?

Since the REA is the constrained resource, all other activities would
need to subordinate e.g. be very supportive of adhoc inspections, etc.

I don't know what the rules are there, but you could package an
independent building inspection report etc, as this is something that
would usually take time for the potential buyer to organise and add to
their risk (in Australia this is the buyer's responsibility).

Mike



Thu Feb 21, 2008 1:37 am

MikeS@...
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Message #431 of 442 |
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A few years ago a client of ours was thinking of purchasing a real estate agency (he didn't). He asked me to detail some ideas about what we might do to this...
Justin Roff-Marsh
justinroffmarsh
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Feb 19, 2008
1:21 am

Justin From the perspective of someone who has dealt with Real Estate agents a lot, the reason we distrust them is that they are given 5-7% of the selling...
Bryan McNamara
bryanmcn2001
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Feb 19, 2008
3:11 am

I think that the commercialisation breakthrough would need to centre around reducing or removing the uncertainties for the vendor. This would seem to be prime...
Mike Smith
MikeS@...
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Feb 19, 2008
10:59 pm

This is an interesting discussion at a convenient moment, as I am about to sell my house using an REA. That in itself is not very interesting and certainly not...
mr_delete_nl
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Feb 21, 2008
1:09 am

Success is often found when goals are aligned. By this I mean aligning your goals to the REA's. I think you are correct in deducing that a fast sale is of more...
Mike Smith
MikeS@...
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Feb 21, 2008
1:42 am

If you review the article, the issue of the property not selling for a higher price and REA pushing for deal that may not be in the best interest of the...
mark woeppel
mwoeppel
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Feb 21, 2008
3:47 am

Somewhat of a combination of what I've read on this post... 1) Pay for an independant dollar value assessment of your house. 2) Do a little research on your...
Bryan McNamara
bryanmcn2001
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Feb 22, 2008
12:55 am
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